Ukrainian Astarta can pay 12.5 million euro in dividends for 2023, at same level as previous year

MOSCOW. May 14 (Interfax) - Ukrainian agricultural holding Astarta plans to pay dividends for 2023 of 0.5 euro per share for a total of 12.5 million euro, Ukrainian media reported, citing a company statement on the Warsaw Stock Exchange.

The corresponding issue is included in the agenda of the shareholders meeting, which will take place on June 4 in Nicosia, Cyprus.

Other issues include the adoption of a new remuneration policy and confirmation of PriceWaterhouseCoopers as auditor for 2023. It is also proposed to instruct the board to select an auditor for 2024.

As reported, dividends for 2022 were also paid in the amount of 0.5 euro per share for a total of 12.5 million euro.

For the first time in its history, Astarta paid dividends based on its 2020 results. They also totaled 12.5 million euro (0.5 euro per share). The company did not pay dividends for 2021 and left most of its net profit (94.1 million euro out of 122.5 million euro) undistributed.

Astarta is a vertically integrated agro-industrial holding, which includes sugar factories, agricultural farms with a land bank of 220,000 hectares, dairy farms, an oil extraction plant, elevators, and a biogas complex. The main shareholders are the family of founder and CEO Viktor Ivanchik and Fairfax Financial Holdings Ltd.

Astarta shares are currently quoted on the Warsaw Stock Exchange at 26.6 Polish zloty per share (about 6.23 euros).